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By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments world.

Last week, we heard of fund launches from Silk Invest (Arab and African equities); BlackRock (European); Marlborough (diversified); Liquid Capital (managed futures); Premium Asset Management; M2M (shipping); LionRock (multi-strat); HSBC (forex). Harbour Capital closed its hedge fund platform.

The HFRI Fund Weighted Composite Index went up 1.80% (est.) in March and 0.52% YTD; HFRX Global Hedge Fund Index -0.03% (est.), 0.68% YTD; Newedge CTA index -2.41% (first negative month since Aug-08), -2.12% YTD; AlternativeEdge Short-Term Traders Index -2.19% (-1.34% YTD); Australian Fund Monitor’s main index 1.99% (est.), 0.79% YTD; Absolute Return Composite index 0.43% (est.), 1.19% YTD; Barclay Hedge Fund Index 2.50% (est.), 0.89% YTD; Barclay CTA Index -0.90% (est.), -1.33% YTD; Hennessee’s index 1.37%, 1.09% YTD; Credit Suisse/Tremont Hedge Fund Index 0.86% (est.), 1.06% YTD; Eurekahedge Hedge Fund Index 1.3% (est.), 0.80% YTD.

Eurekahedge also said that redemptions had eased to 0.5% of the hedge fund universe; BarclayHedge reported that hedge fund redemptions had slowed to $17.3bn in February; and a IFSL report said that hedge fund assets might fall by a fifth in 2009. Reports said that Och-Ziff’s heavy redemptions were continuing.

Australia’s Basis Capital confirmed that a third distribution of approximately US$36m, representing around 49% of the failed Basis Pac-Rim Opportunity Fund’s NAV, would be made in April; Fitch......................

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